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Existing Home Sales Hit 15-Year Low; Housing Market Weakens
The July data was expected to be very bad, but it was even worse than expected - much worse.
The National Association of Realtors said sales dropped a record 27.2 percent from June to an annual rate of 3.83 million units, the lowest level since May 1995. June's sales pace was revised down to a 5.26 million-unit pace.
The July data was expected to be very bad, but it was even worse than expected - much worse.